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September 2016 Hilton Head/Bluffton Market Report

September 2016

Hello from the Lowcountry!

Well…we have had an unprecedented past 2 weeks with evacuation, impact, and recovery associated with Hurricane Matthew.  Our resilient community has responded in a spectacular way, and it is certain that everyone is working diligently to put the storm behind us and get back to normal life in our award-winning part of the country.

Taking a quick look at the market, September proved to be another robust month with an 18% increase in pending sales over Sept 2015.  Closed sales year to date crested 10% over 2015 through September, and both median and average sales prices are up nicely (5% and 6% respectively) for the year.  Additionally, the average time for property to sell is down 2 weeks from last year, posting an average of 139 days.

Here in the early days/weeks after the storm, we are seeing pending sales close – though somewhat delayed by the reinspection process – and buyers are out with our agents looking at property and writing offers.  All of these are positive indicators of the near and long term market outlook for greater HHI/Bluffton.

We are here to help – as always – and we look forward to the next opportunity to serve you!

Best-

Chip

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